Angus Deaton wins 2015 Nobel Prize in Economics

The 2015 Nobel Prize in Economics has been awarded to Scottish micro-economist Angus Deaton, the Royal Swedish Academy of Sciences announced here on Monday. According to an academy statement, Deaton, 69, was awarded "for his analysis of consumption, poverty, and welfare". "More than anyone else, Angus Deaton has enhanced the understanding of individual consumption choices which is crucial to design economic policy that promotes welfare and reduces poverty," it said. (Source: IANS)